GSTnews item30 October 2015
India extends exports duty incentives to boost exports
News Update
India extends exports duty incentives to boost exports
The government on Friday extended duty incentives to a large number of products, including textiles and electronics, to increase competitiveness of Indian exports. The commerce ministry notified the list of 110 new tariff lines or products to which duty benefits have been extended under the Merchandise Exports from India Scheme (MEIS), and increased rates or country coverage, or both, for existing 2,228 items. Under the export incentive scheme, the government provides duty benefits at 2 percent, 3 percent and 5 percent depending upon the product and country. Global support has been extended to products including textile items, pharmaceuticals, project goods, auto components, telecom, computer, electrical, electronics and railway transport equipments. Earlier, benefits to these items were provided to a few countries.
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